XYL dominated by bulls lifting the market higher throughout the day


Xylem Inc. New (XYL) Technical Analysis Report for Jun 30, 2020 | by Techniquant Editorial Team

Highlights

XYL dominated by bulls lifting the market higher throughout the day
XYL closes higher for the 3rd day in a row
XYL pushes through Monday's high

Overview

Moving higher for the 3rd day in a row, XYL ended the month -2.08% lower at 64.96 after gaining $0.70 (1.09%) today, slightly underperforming the S&P 500 (1.54%). The bulls were in full control today, moving the market higher throughout the whole session. Closing above Monday's high at 64.42, the share confirmed its breakout through the prior session high after trading up to $0.92 above it intraday.

Daily Candlestick Chart (XYL as at Jun 30, 2020):

Daily technical analysis candlestick chart for Xylem Inc. New (XYL) as at Jun 30, 2020

Tuesday's trading range has been $1.42 (2.22%), that's below the last trading month's daily average range of $1.98. Weekly volatility is also lower, being below the market's average weekly trading range. The longer-term, monthly volatility is currently slightly lower than usual for XYL.

Two candlestick patterns are matching today's price action, the Bullish Short Candle and the White Candle which are both known as bullish patterns. The last time a White Candle showed up on June 26th, XYL gained 1.74% on the following trading day.

Prices are trading close to the key technical resistance level at 65.35 (R1).

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

Buying might accelerate should prices move above the close-by swing high at 66.20 where further buy stops could get triggered.

Among the six market conditions that our pattern recognition engine identified today, the statistics for the Price Action based market condition "3 Consecutive Higher Closes" stand out. Its common bullish interpretation has been confirmed for Xylem. Out of 142 times, XYL closed higher 56.34% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the long side has been after 10 trading days, showing a win rate of 57.04% with an average market move of 0.43%.


Market Conditions for XYL as at Jun 30, 2020

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